International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


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Research Paper | Economics & Management | China | Volume 6 Issue 9, September 2017 | Popularity: 7.1 / 10


     

Financing Methods, Capitalized R&D Choice and Firm Value

Yanni Wang, Hui Yang


Abstract: Investment activities and financing activities are important financial behavior of enterprises, and good financing structure can provide better support for enterprises' investment activities, so as to create more value for enterprises. Based on 9141 listed companies in Shanghai and Shenzhen A-shares from 2009 to 2015, this paper studies the impact of financing methods on the relationship between capitalized R & D choice and firm value from the perspective of regulatory effects. The results show that (1)Overall, capitalized R & D choice is conducive to the promotion of firm value. Different financial methods will further affect the value effect of capitalized R & D choice. (2) In particular, the more endogenous financing and debt financing, the stronger the value effect of capitalized R & D choice. On the contrary, the more stock financing, the weaker the value effect of capitalized R & D choice.


Keywords: regulatory effects, financing methods, capitalized R&D, firm value


Edition: Volume 6 Issue 9, September 2017


Pages: 1009 - 1014



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Yanni Wang, Hui Yang, "Financing Methods, Capitalized R&D Choice and Firm Value", International Journal of Science and Research (IJSR), Volume 6 Issue 9, September 2017, pp. 1009-1014, https://www.ijsr.net/getabstract.php?paperid=11091705, DOI: https://www.doi.org/10.21275/11091705